Today Government of India Prime Minister Narendra Modi flashed the news about 500 rs note that is considered as one of the major economic transformation in Indian economic history after the year 1991. According to this, From today itself all the exisiting Rs.500 and Rs.1000 note is considerd to be illegal and new notes will take it place. Here in this article we have decided to present all the news about 500rs Note that is trending across the entire internet.

Frustration & silence can been seen on people worried about Black money.This message has nothing to do with Kejri & Mamtad

Today as Trump fucks Amerika, Modi ji fucks Ameeri-ka #BlackMoney

How the 500 and 1000rs Note Before 2005 is consider as surgical strike for Black Money Holders

Modi knows how to gain attention when every Indian eyes were on US elections suddenly modi catch the attention on himself

Today is a day when people with #BlackMoney will not sleep and we the common people will sleep peacefully!

Narendra Modi Allowed Rs 500 and Rs 1000 Notes In Hospitals Because He Knew Many People Will Have Heart Attack After The News

Old 500/1000 notes scrapped.. Just deposit these notes in your bank account. Problem is only for those with unaccounted cas

Top Memes on 500 and 1000rs Note before 2005 , Latest News of Narendra Modi on 500 rupee Note

Future Implications of This Latest News about 500 Rupee Note:

1. Black money issue, 500 rupees and 1000 rupees banned from Midnight. No longer they can be used for any transaction.
2. ATM’s wouldn’t work on 9th and 10th November. From 11th, the withdrawal limit is Rs. 2000 only.
3. All Residents have option till 30th December 2016 to deposit their existing 500 and 1000 rupees in their bank accounts.
4. ATM withdrawal is limited post 24th Nov to 4000 per day, but initial few days it would be 2000 Rs. Only.
5. Emergency services like hospitals and chemist, train ticket booking and airline ticket booking, petrol pumps, CNG stations may accept the old notes till 11th November.
6. No changes in online, card, cheque or any other plastic money transactions.
7. On 9th November all banks wouldn’t be available for public banking services.
8. Existing notes can be exchanged with new notes in banks and post offices upto limit of Rs. 4000 per day. You will need to show identity proof. Last date 31st December.
9. If not possible till 31st Dec., old notes can be exchanged with rbi till 31st March 2017 after submitting proper affidavit.

Implications on Economy and Society:
1. Restrict platform for corruption.
2. Stop fake currency used by terrorists .
3. All big and small cash transactions will reduce dramatically , slowing Economic activities for some time. Chances of depression for some time to come.
4. Reduce inflation as Money flow will be reduced in Economy.
5. Property prices will crash.
6. Huge jump in bank and online transactions.
7. Tax collections will be record breaking. Can jump 1.5 to 3 times.
8. Banking and finance companies like paytm, etc. share prices will jump as they will get record deposits .
9. Interest rates may come down in long term as more liquidity comes into banking and finance system .
10. Hawala transactions will be affected in short term.
11. Big festivals and events like multi crore weddings, religious celebrations , etc. in society will be reduced.